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Jarosław Ignacy

Abstract

We have witnessed fundamental changes in developmental conditions in the last decade. Their pace is constantly growing, and the increasing dynamics of socio-economic transformations create a new reality. The consequences of the changes affect not only companies, but also public administration. Therefore, the goal of the article was to identify the directions of the reforms of new public management in Polish and Spanish public administration in the years 2010-2015. An analysis of the research results shows that the most important trends of the reforms in Poland included: i) transparency of actions, ii) digital administration and e-government and iii) cooperation between various entities of the public sector, whereas Spanish respondents regarded the following trends as the most important: i) digital administration and e-government, ii) reduction of the public sector, iii) transparency of actions. The results of the research show the progressive convergence of the directions and tools of the reforms in EU countries, while maintaining differences in some aspects of development in particular countries.

Open access

Mihai-Bogdan Alexandrescu and Marius Milandru

Abstract

Permanent communication between bidders and consumers, who are usually spatially and temporarily separated, is a necessity, because prompt and correct information stimulates demand, directs it towards certain products and influences rational consumption, causes changes in the mentalities and attitudes of potential buyers, which will be reflected in the increase in the volume of sold goods and implicitely of the profit, as the sole purpose of the producer. The marketing communication system is the general framework in which promotion takes the form of the promotional mix, based on the four promotional tools: advertising, personal sales, promotion sales and public relations, aimed at presenting the organization, its products and services, at raising awareness of potential customers, and of course, at increasing sales to get more profit.

Open access

Babulia Mghebrishvili

Abstract

The article emphasizes significance of the laws within the legal framework for performing marketing activities, timely solution of the problems and protection of the consumers’ interests. The author describes the process of development of the legal framework for business in Georgia and pays particular attention to the activities performed after signing and effectiveness of the Association Agreement with the European Union. With respect of protection of the consumers’ rights, the article provides analysis of Georgian laws: Code of Food Safety and Free Circulation, Code of Food/Animal Fodder Safety, Veterinary and Plants Protection, Georgian Law on Advertising, Technical Regulation on Additional Requirements to Labeling of Food Products, Technical Regulations on Providing Information on the Products to the Consumers. In the author’s opinion, significant weakness of the legislation affecting marketing is the fact that Georgian Law on Protection of Consumers’ Rights suspended in 2012 has not been enacted yet while the draft law is ready and published. On the basis of analysis of legal framework the author concludes that the consumers’ rights, in general, are protected in the country by the effective legislation but the main thing is not only existence of the laws but rather their enforcement. For this purpose, states the article, Georgian government has adopted the resolution (2015) Food/Animal Fodder Safety State Control Rule, according to which the relevant state structures control the respective businesses and protect the consumers’ rights in this way. The process of improvement of the legal basis affecting marketing in Georgia is still in progress.

Open access

Liridon Kryeziu and Recai Coşkun

Abstract

This study examines Kosovo’s attempts to create efficient political and economic institutions while assuming that if these institutions cannot perform well and the market economy will also fail. Thus, the main aim of this paper is to understand the reasons behind institutional and economic failure. A qualitative research approach that we used is based on a longitudinal perspective and a set of secondary data which are analyzed by using Qualitative Content Analysis technique. Our findings suggest that the state-building period which was administrated by the international organizations created problems such as polarizations in views, duality and imbalance in power distribution and illegitimacy of the governing institutions. These problems are more or less reflected in other institutions in the following independence period. Moreover, due to continuing and deepening political fragmentation and tension amongst the local parties, attempts to create well-functioning and supporting institutions have not yet produced fruitful results. With such institutional performance Kosovo has not yet been able to create a functioning market economy and to overcome economic challenges.

Open access

Georgios Chatzinas, Maria Markopoulou and Simeon Papadopoulos

Abstract

The financial assistance provided by European Stability Mechanism during the recent European crisis was accompanied with severe austerity measures and strict reforms that changed significantly the economic environment in the countries that accepted it. The present study examines whether these changes affected the capital structure of the European firms in these countries. Using accounting data for firms in Cyprus, Greece, Ireland and Portugal, the researchers created a balanced panel database and applied the Shyam-Sunders and Myers (1999) methodology to investigate whether pecking order or trade-off hypotheses can better explain the financing decision of the firms in these countries during the period before and after the outset of the ESM financial assistance. The results indicate that the firms’ capital structure decisions are explained by both theories in Greece, Cyprus and Portugal before the beginning of the EMS program, while only by trade-off in Ireland. On the other hand, after the beginning of the ESM program the firms’ capital structures are better explained by trade-off hypothesis in Greece and Cyprus, while nothing changed in cases of Ireland and Portugal. The fact that Greek and Cypriot tax rates increased the most among the four examined countries may explain at least partially the above differentiations. So, the economic environment is a primary factor that affects the explanatory power of each capital structure theory. Moreover, a change in economic environment may lead to a change in the dominant capital structure theory.

Open access

Maurizio Faccio and Mojtaba Nedaei

Abstract

Scheduling of machines together with the optimization of the energy consumption (EC) play a crucial role in every manufacturing system. The current paper aims to present a multi-objective optimization approach for planning and scheduling of a manufacturing system in a job-shop environment. First, an inclusive review and comparison of the latest advancements in this field was performed. Then, a manufacturing system in a job-shop environment, which consists of six designed machines with zero buffer capacity, and 53 jobs, was simulated. Four heuristics for the purpose of sequencing are adopted during the analysis process. A comparison of the optimum results suggested the most efficient values for the EC, make-span, and tardiness. The EC variations and processing time of the machines were studied under sequencing rules to let the designers exploring more efficient solutions, and planning strategies towards enhancing the performance and reliability of studied machines. Next step of this study was to estimate the optimum completion time of each process in the considered manufacturing system and with consideration of the proposed scheduling methods.

Open access

Emerson Abraham Jackson

Abstract

The thought about taking an ethical view-point to this research has emanated from the researcher's journey in preparing for a baseline survey of residents in Goderich using the Community-Based Research Participation (CBRP) approach to investigating concerns pertaining to sustainable livelihood needs. In as much as the overarching focus of the research is aimed at meaningful contribution to the body of knowledge, it was worth the effort in journeying through this phronetic / ethical exploration, which is not so common in research engagements carried out in developing countries like Sierra Leone. The role of the researcher as an insider was thoroughly explored, with the view of openness raised as the preferred option as a way of eliciting unbiased outcomes from participants and also, removing power domination, most often witnessed in researcher-participants relation with most research undertakings.

Open access

Rui Pedro Brito, Helder Sebastião and Pedro Godinho

Abstract

This paper analyzes empirically the performance gains of using high frequency data in portfolio selection. Assuming Constant Relative Risk Aversion (CRRA) preferences, with different relative risk aversion levels, we compare low and high frequency portfolios within mean-variance, mean-variance-skewness and mean-variance-skewness-kurtosis frameworks. Using data on fourteen stocks of the Euronext Paris, from January 1999 to December 2005, we conclude that the high frequency portfolios outperform the low frequency portfolios for every out-of-sample measure, irrespectively to the relative risk aversion coefficient considered. The empirical results also suggest that for moderate relative risk aversion the best performance is always achieved through the jointly use of the realized variance, skewness and kurtosis. This claim is reinforced when trading costs are taken into account.

Open access

Daiva Andriušaitienė

Abstract

A country’s qualification structure that meets the needs of the labour market and properly skilled professionals at different levels of qualification are the objectives targeted by each country, region and entity. Competencies demanded on the labour market determine the competitiveness of a person, entity and the whole country. In order to train professionals to better meet the labour market needs, solution formulas for the problems are sought in the field of infrastructure improvements, system management and other areas. This article analyses the opportunities for enhancing match of skills safeguarded by the national occupational standards in Lithuania, including the analysis of progress, problems and solutions.

Open access

Celina Sołek-Borowska and Maja Wilczewska

Abstract

Well-conducted recruitment and selection process is extremely important for the organization, permitting in-depth and objective verification of candidates in terms of meeting employer’s expectations and leads to their employment. Up to now, there has been little research on the impact of e-recruitment on the recruitment process as a whole. The present study fills part of this gap by investigating the effect of e-recruitment on the design of the recruitment process. Therefore, the main purpose of the paper is to analyze how new technology has influenced the recruitment process as a whole. The recruitment process will be presented on the example of ItutorGroup. The paper considers the possibilities of including modern technologies in the recruitment and selection strategies of the organization based on a case study method. The case study describes the project of cooperation of the Work Service personnel consultancy with the international organization ItutorGroup. Its selection and recruitment strategy was based on video-recruitment. The findings indicate that e-recruitment transforms the traditional recruitment process into a time- and space-independent, collaborative hiring process. The most significant changes are recorded in the sequence and increased divisibility of main recruitment tasks. For management, the main task is now that of communicating with candidates. Recruitment and selection strategy based on modern technologies requires an experienced and competent team, two unquestionable benefits are: limiting the length of the process in time and possibility to decrease the costs.